Kolaboration Ventures Corporation and Mission Nurseries Inc. announced they have concluded a definitive Agreement pursuant to which KVC has acquired all of the issued and outstanding shares of Mission Nurseries Inc.
Key Transaction Highlights and Benefits
- Strategic Products & Product Development – Mission Brands’ products are loved by tens of thousands of California cannabis consumers across hundreds of dispensaries. This includes Canna-LeanTM, MyBlueDoveTM, BuzziesTM, Don PrimoTM, White WidowTM, Black WidowTM, Comfort CBDTM, NitecapzzTM, Happy DazeTM, and Mission NurseriesTM.
- Market share leader in KVC Enjoythefarm.com retail locations – Products are in the top products for every category they compete within.
- Product Development – Mission Brands SOPs for emulsification and productization enable us to further expand the products and categories their products compete in.
- Increased scale and diversification – Adding Mission Brands to the portfolio further bolsters and diversifies KVC’s revenue base with higher-value SKUs.
- Improved revenue mix – The acquisition furthers KVC’s goal of increasing vertical integration and scale to drive profitability improvement.
“We are incredibly excited to announce this acquisition. KVC brings increased fuel to drive continued product innovation of the Mission Brands product portfolio while furthering the KVC goal of delivering high-quality cannabis products at affordable prices while increasing margin,” said Martin Wesley, CEO of Kolaboration Ventures Corporation.
“Since our founding, our mission has been to deliver high-quality cannabis products at fair prices to our customers, the opportunity to better achieve our goal led us to joining the KVC family. Kolaboration Ventures continues to expand its retail and cultivation footprint, which furthers our efforts to reduce COGs while increasing product availability to continue to deliver incredibly popular products that consumers love,” said Mitchell Davis, CEO of Mission Brands.
Image provided by KVC.